The University of Liverpool Management School has brought to light a shocking report from the government’s Culture, Media and Sport department, that the intrusive promotion of crypto assets in professional sport puts fans at risk and harms the reputation of clubs. The report
acknowledges that while the Non Fungible Tokens (NFTs) market registred unprecedented readings last year, the success may not continue due to the unspecified security status and legal protection. Supportive statements were issued by Kieran Maguire, Senior Teacher in Accountancy at the University of Liverpool Management School, who pointed out that clubs never got involved in really understanding the products but accepted the income as a means of support.. The implementation of utility tokens allows owners to vote in consumer polls and to gain access to ticket lottery however the price fluctuation makes NFTs-Buynds displays a problem for those with investment endeavors. Fans cannot rely on promises of engagement, duty of care is essential, therefore should not be promoted as a recognizable membership option altogether. CMS chairman Dame Caroline Dunenage, urged “In the sphere of sport, clubs are monetizing on the trust of their supporters,hydra very often the extra delivered services speculated humiliate to exist. Clubs have a duty of care in respect to this regime.” The conclusion of ” The Committee reports” chairs forNFT strategies to be detangle from any protection moderators kitcluding football.
